Ermenegildo Zegna (NYSE:ZGN) Trading Up 4.4%

Ermenegildo Zegna (NYSE:ZGN) shares traded up 4.4% on Wednesday . The stock traded as high as $11.62 and last traded at $11.51. 653,654 shares were traded during trading, a decline of 5% from the average session volume of 688,747 shares. The stock had previously closed at $11.02.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of Ermenegildo Zegna from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.00 to $18.70 in a research note on Thursday, January 11th.

Ermenegildo Zegna Price Performance

The firm’s 50 day moving average price is $13.67 and its two-hundred day moving average price is $12.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.76 and a current ratio of 1.27.

Institutional Investors Weigh In On Ermenegildo Zegna

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in shares of Ermenegildo Zegna by 111.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,135 shares of the company’s stock valued at $40,000 after buying an additional 1,650 shares in the last quarter. UBS Group AG bought a new position in Ermenegildo Zegna during the fourth quarter worth $44,000. Point72 Asset Management L.P. bought a new position in Ermenegildo Zegna during the second quarter worth $71,000. Legal & General Group Plc boosted its position in Ermenegildo Zegna by 26.0% during the fourth quarter. Legal & General Group Plc now owns 5,980 shares of the company’s stock worth $63,000 after purchasing an additional 1,235 shares during the period. Finally, Amalgamated Bank boosted its position in Ermenegildo Zegna by 25.4% during the fourth quarter. Amalgamated Bank now owns 7,964 shares of the company’s stock worth $83,000 after purchasing an additional 1,612 shares during the period. Institutional investors and hedge funds own 12.91% of the company’s stock.

About Ermenegildo Zegna

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.